In Legg v. Commissioner, 145 T.C. No. 13 (Dec. 7, 2015), the Tax Court looked at whether the Internal Revenue Service followed the procedural requirements of Internal Revenue Code Section 6662(h), ...

The caliber of Disney's reporting has been thrust into the spotlight after it admitted to making multiple errors about its emissions in its financial statements. The ...

David joined Raw Story in 2023 after nearly a decade of writing about the legal industry for Bloomberg Law. He is also a co-founder and a commissioning editor at Hypatia Press, a publisher that ...

On July 16, 2025, the US District Court for the Eastern District of New York dismissed a scheme liability claim in an enforcement action brought by the US Securities and Exchange Commission (SEC) ...

Generally accepted auditing standards (GAAS) require the auditor to identify and assess risks of material misstatement (AU-C §315, Understanding the Entity and Its Environment and Assessing the Risks ...

THE SARBANES-OXLEY REQUIREMENT FOR COMPANIES to develop key control processes has brought new attention to the well-known concept of materiality. CPAs need to be able to identify key control ...

A former Kentucky school financial investigator says Fayette County’s school board was presented with information about Fayette County Public Schools’ finances in 2024-25 “that was misstated to the ...

A recent decision from the U.S. Court of Appeals for the Second Circuit has at least temporarily stifled the potential expansion of "scheme liability" under the federal securities laws. In SEC v. Rio ...